This paper employs stochastic simulations of a small structural rational expectations model to investigate the consequences of the zero bound on nominal interest rates. We find that if the economy is subject to stochastic shocks similar in magnitude to those experienced in the U.S. over the...

Several spatial econometric approaches are available to model spatially correlated disturbances in count models, but there are at present no structurally consistent count models incorporating spatial lag autocorrelation. A two-step, limited information maximum likelihood estimator is proposed to...

In this paper, we explore empirically whether the USDA Forest Service's litigation success rate in each Forest Service region helps explain the persistent regional effects noted by Laband et al. (Laband, D.N., González-Cabán, A., and Hussain, A. (2006). “Factors That Influence...

Allocations of research funds across programs are often made for efficiency reasons. Social science research is shown to have small, lagged but significant effects on U.S. agricultural efficiency when public agricultural R&D and extension are simultaneously taken into account. Farm management...

Periodic shortfalls of organic food have been commonplace in the USA. Shortages, created when demand grows faster than supply, have been exacerbated by relatively slow growth of certified organic farmland (in comparison to growth in retail sales) over the past decade. Organic intermediaries,...